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Strapping Materials Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI4095

Strapping materials market size will foresee a significant expansion from 2022 to 2028 due to the fast-growing logistics operations and e-commerce sector. The increasing adoption of household appliances, textile goods, medical devices, consumer electronics, and pharmaceutical products, has stirred the rise in number of mail orders.

The surging count of government initiatives and escalating awareness regarding recycling plastics have led to the expansion of the export trading sector. The rising acceptance of packaged food in the U.S. is another contributor to industry development.

Higher costs and the inefficiency of the materials to counter rain, frost, or moisture along with rising recycling abilities may hamper the industry expansion to some extent. However, the increasing consumer awareness of sustainable and environment-friendly packaging will drive market growth.

Based on materials, the steel strapping materials market revenue is set to record a substantial value in the ensuing years, owing to growing preference for heavy-duty applications. On account of their optimum reliability and break strength, these materials are considered suitable for roll end binding, bundling together other metals, baling wire, pavers and bricks, and strong steel coils. Increasing adoption in the metal industry and in providing resistance to rough handling of heavy loads in instances of transportation will add an edge to the product demand.

In terms of application, the industrial logistics and warehouse segment will emerge as a lucrative avenue for strapping materials with a growing presence in Germany and the U.K. The transition of steel strapping to plastics in logistics management for bundled construction materials and primary packaging containers, like beverage bottles and cans will fuel the industry growth.

North America is likely to witness higher adoption of strapping materials through 2027 on account of the surging consumer awareness related to sustainable and environment-friendly packaging. The significantly expanding e-commerce industry has resulted in advancements across the packaged food, and logistics verticals in the region. The increasing number of mail orders coupled with rising building and construction activities will influence the market growth. The fast-growing warehouse and industrial logistics will also amplify the product penetration in the region.

The Strapping Materials Market share in the Asia Pacific is expected to expand driven by factors, such as rapid infrastructural & industrial development, and the burgeoning food and beverages sector. The vast availability of land and low labor costs, mainly in the developing economies, like Vietnam and India have steered the rise in manufacturing activities. Increasing strapping materials demand in newspapers, graphics, industrial logistics, and warehouses will add positive impetus to the regional market dynamics.

Global suppliers of different types of strapping materials are striving towards ramping up their manufacturing activities and are increasingly focusing on new product launches along with partnerships, acquisitions, and mergers, for augmenting their global presence.

For instance, in September 2020, Skanska USA collaborated with 3M™ for the development of the latter’s fall protection and suspension trauma safety straps in order to enhance worker safety and reduce injuries from job site falls.

Crawford Packaging, Milan Ligocki UNI PACK, Titan Umreifungstechnik GmbH & Co. KG, Plastofine Industries, Signode Packaging Systems Corporation, Polychem Corporation, Mosca GmbH, Dynaric, Martin Packaging, StraPack, Inc. (Strapack Corporation), Signor Polymers, Cyklop International, and Panorama Packaging, are few other players operating in the business.

Effect of the COVID-19 pandemic on strapping materials market trends

In response to the COVID-19 crisis, the market demand for strapping materials significantly plummeted owing to the imposition of the nationwide lockdowns and the influx of trade barriers. This gave way for halted manufacturing and distribution activities across a vast number of industries, including industrial logistics, and consumer electronics. The dearth of the workforce and raw materials also brought a drop in building & construction activities, subsequently adding a negative impact on the market development.

What Information does this report contain?

Historical data coverage: 2017 to 2021; Growth Projections: 2022 to 2028.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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